Pakistan's textile exports dip 10% in July as energy woes bite: APTMA

[ghazi52]

.,.,

Pakistan's textile exports dip 10% in July as energy woes bite: APTMA​

• Clock in at $1.54bn during the previous month

BR

Pakistan's textile exports clocked in at a provisional $1.54 billion, a drop of 10%, in July 2022 compared to $1.71 billion in June 2022, stated the All Pakistan Textile Mills Association (APTMA) on Tuesday.

On a yearly basis, textile exports were up 5%, compared to $1.47 billion recorded in July 2021, showed the provisional data released by APTMA. In July 2022, the percentage of textile exports in total exports reached 66%, it added.

"The decline in exports can be attributed to lack of energy supplies, which reduced textile export growth from double digits to single digits. If reliable and affordable supplies aren't made available, this could further contribute to negative growth in the ensuing months," said APTMA.

Just days ago, APTMA said exports in July are expected to suffer a major dent, and may drop to $1.5 billion.
The development comes weeks after APTMA urged authorities to restore gas and RLNG supply of the export-oriented industry on an urgent basis, stressing that a loss of almost $1 billion in exports would take place, resulting in further damage to the economy.

Pakistan’s textile sector accounts for a major share of country’s exports, which are vital for the cash-strapped economy. Pakistan suffers from low foreign exchange with policymakers mostly scrambling to ensure dollar inflows. In such an environment, many experts have stressed on exports, especially in a rupee-depreciating environment.

On Friday, APTMA, in a statement, also warned that Pakistan is on the brink of economic collapse.

“With depleting foreign currency reserves, rising inflation, the exchange rate in free-fall and irrationally high-interest rates, the country is headed towards a path similar to the economic downfall of Sri Lanka,” APTMA said in a release.

Pakistan's textile exports dip 10% in July as energy woes bite: APTMA

* Clock in at $1.54bn during the previous month

www.brecorder.com

 

[Samlee]

Nothing new whenever PPP or pml n come to power exports drop industry closes and debt increases

 

[ziaulislam]

.,.,

Pakistan's textile exports dip 10% in July as energy woes bite: APTMA​

• Clock in at $1.54bn during the previous month

BR

Pakistan's textile exports clocked in at a provisional $1.54 billion, a drop of 10%, in July 2022 compared to $1.71 billion in June 2022, stated the All Pakistan Textile Mills Association (APTMA) on Tuesday.

On a yearly basis, textile exports were up 5%, compared to $1.47 billion recorded in July 2021, showed the provisional data released by APTMA. In July 2022, the percentage of textile exports in total exports reached 66%, it added.

"The decline in exports can be attributed to lack of energy supplies, which reduced textile export growth from double digits to single digits. If reliable and affordable supplies aren't made available, this could further contribute to negative growth in the ensuing months," said APTMA.

Just days ago, APTMA said exports in July are expected to suffer a major dent, and may drop to $1.5 billion.
The development comes weeks after APTMA urged authorities to restore gas and RLNG supply of the export-oriented industry on an urgent basis, stressing that a loss of almost $1 billion in exports would take place, resulting in further damage to the economy.

Pakistan’s textile sector accounts for a major share of country’s exports, which are vital for the cash-strapped economy. Pakistan suffers from low foreign exchange with policymakers mostly scrambling to ensure dollar inflows. In such an environment, many experts have stressed on exports, especially in a rupee-depreciating environment.

On Friday, APTMA, in a statement, also warned that Pakistan is on the brink of economic collapse.

“With depleting foreign currency reserves, rising inflation, the exchange rate in free-fall and irrationally high-interest rates, the country is headed towards a path similar to the economic downfall of Sri Lanka,” APTMA said in a release.

Pakistan's textile exports dip 10% in July as energy woes bite: APTMA

* Clock in at $1.54bn during the previous month

www.brecorder.com

Congratulations

We should hopefully attain 20% drop like we did in 2013-2018
.
We shall tame this export mafia and focus on money laundering and imports

Nothing new whenever PPP or pml n come to power exports drop industry closes and debt increases

Which is a good thing
Sarmayadar nizam namanzoor

 

[ghazi52]

,.,.

Petrol, diesel sales decline on slower agri, transport activities​

By Tanveer Malik
August 02, 2022

KARACHI: The sale of diesel and petrol declined by 27 percent and 38 percent respectively in the month of July 2022 on the back of long holidays of Eid as well as rains, which slowed down agriculture and transport activities in the country.

Overall sale of petroleum products also shrank during the month under review as it fell by 26 percent YoY, oil sale data showed on Monday. The sale of petroleum products plunged to 1.44 million tonnes in of July compared to 1.94 million tonnes of July last year and 1.94 million tonnes, recorded in June this year.

Petrol sales went down by 27 percent on year-on-year basis and 15 percent on month-on-month basis to 0.59 million tonnes, which was the lowest sale volume since April 2020. The sale of high speed diesel (HSD) decreased by 38 percent on YoY basis and fell by the same percentage on MoM basis.

Similarly, furnace oil sales also declined five percent YoY basis 23 percent MoM. Tahir Abbas, head of research at Arif Habib Limited told The News that the long holidays of Eid and rains slowed down activities that resulted in lower consumption of petroleum products.

Sales of Pakistan State Oil (PSO) decreased 25 percent YoY and 27 percent MoM. Sales of Attock Petroleum Limited decreased 12 percent YoY and 25 percent MoM. Shell sales also went down 30 percent YoY and 34 percent on MoM basis.

The rainy month of July halted agricultural activities in almost the entire country, which slashed diesel demand that is mostly used as a fuel in the agriculture sector. “Harvesting season is over and now rains are lashing almost the whole country, putting breaks on agriculture activity,” a top executive of an oil firm told The News.

Low consumption has led to diesel stockpile of up to 660,000 tonnes in the country, which was sufficient for the next few days, keeping in view the current daily consumption of the fuel, the executive said.

About low sale of petrol, he said that this could mainly be attributed to the price hike, as people were not bringing out their vehicles on the roads to cut back on fuel expenses. Petrol stocks in the country stand at 650,000 tonnes, more than the required quantity for the time being.

On Sunday, the federal government decreased the price of petrol by Rs3.05 but increased diesel by Rs8.95 for the next fortnight. The Finance Division, in its notification, said that in view of the fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers.